From: Mercom Capital Group
GridX, a provider of cloud-based business operations support solutions to utilities and energy suppliers, has raised $40 million in a Series C funding round led by Energy Impact Partners. Other participants include Moore Strategic Ventures (MSV), Sunfox Capital, and NGP ETP. In conjunction, Hunter Horgan of MSV joined the company’s board of directors. GridX also announced that Chris Black had been appointed CEO of GridX. Both moves aim to speed the clean energy transition by accelerating the development of GridX’s rate analytics and complex billing solutions and building out its sales and marketing, product, and engineering teams.
Antin Infrastructure Partners, a private equity firm, has entered into an agreement to acquire a majority stake in SNRG, an owner-operator of fully integrated smart grid systems for residential and, industrial & commercial customers in the UK. Financial details of the transaction were not disclosed. The transaction is expected to close this month. The acquisition is the first made by Antin as part of its NextGen strategy announced in 2021. SNRG provides an inventive solution to decarbonize buildings while delivering significant customer savings.
Tandem PV, a solar PV technology company, specializing in tandem metal-halide perovskite solar panels, announced the initial $6 million close of its $12 million Series A financing round. The round was led by Bioeconomy Capital, an early-stage venture capital firm, through its new Planetary Technologies fund, with participation from an international solar manufacturer and a U.S. utility company. The company will use the funds to build a pilot manufacturing facility in San Jose, California, enabling it to enter its next growth phase in producing commercial-grade solar panels.
Hydrostor, a long-duration energy storage solution provider, announced an investment commitment of $25 million from the Canada Pension Plan Investment Board (CPP Investments). Proceeds from the financing will support Hydrostor’s strategy of developing, constructing, and operating Advanced Compressed Air Energy Storage (A-CAES) facilities globally.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s funding roundup.